4 of the Biggest Issues New Businesses Face (and what to do about it!)

No matter how much thought, research and energy you put into your business, sometimes the stars don’t seem to align and things just don’t work out the way you imagined. Especially in those first couple of months!

I remember my first online business. What a train wreck. It took me nearly 9 months just to get it together enough to get my website up. It was all a massive learning curve and when I did finally get the website running I got discouraged when the sales didn’t come flooding in.

What! Starting a business is hard work and takes time?

Apparently! And how lucky for us there are all sorts of problems that can give your confidence a big ol’ kick in the ass.

To me, 4 of the biggest issues new busines face are;

low sales or NO sales

low profit margin

you have no time for anything but the business

you’re feeling like a big failure

First thing to remember. It really is PERFECTLY NORMAL to have one or more (or all) of these problems at some point in your business, especially when your just starting out.

But the key is to take action and not dwell on what is going wrong. What can you do to bring things back happy?

PROBLEM – No Time?

A business that takes up all of your time is not going to be fun for anybody (see “You’re Not Happy” below).

FREE GUIDE:5 Reasons You're Not Selling Anything On Etsy

TRY THIS – for two weeks minimum and you should start to feel like you are in control of the clock and not the other way around.

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PROBLEM – Low or No Sales

Ugh, I hate low sales. Nothing can bring you crashing down from your high “I just worked my butt off, my business is now up and running, woohoo!” And then no one buys your stuff. Or just your mom does…

Ouch.

Take an objective look at everything you are doing to attract and convert your customers.

Have you optimised your selling platform? If you have an Etsy store, take a look at it from a customer perspective and tell me – would YOU buy anything from your store???

Are your prices competitive?

Are your postage costs competitive?

Are you getting your products in front of enough people?

Are you working consistently to grow your business and not just spending an hour on it, here and there or when you get a chance?

TRY THIS – Most of all, patience is the key here. Keep making tweaks and improvements to your processes. And don’t give up!

PROBLEM – Low Profits

First of all, do you know what your figures are? Are you keeping track of your numbers? Do you know your expenses, income, profit etc? If not, you need to be tracking that, asap.

If you are tracking your numbers and have noticed that your profit is low it could mean a few things

1. your margins aren’t high enough

2. your item is too expensive to make; or

3. the market doesn’t want to pay what the item is really worth

Number 3 can be brutal but it’s important to be honest with yourself. Perhaps you need to alter your product or change it altogether?

TRY THIS – Look at your expenses and see where you might be able to cut back to make your product cheaper to create.

BIG PROBLEM – You’re Feeling Like A Failure

Do you have this niggling thought that this business was meant to be the ultimate key to your happiness and you’re not feeling successful or happy with it at all?

It’s something that we ALL struggle with, no matter how far along the journey we are!

First of all, don’t be so hard on yourself! It’s really tough when you do all the right things, set goals and work really hard to get stuff done and then the return isn’t what you thought it would be. I get it, but it’s time to stop that kind of thinking. It really doesn’t help.

Stop seeing every obstacle as a total failure. They are just roadblocks that we need to find a way around, that’s all.

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Hi, I'm Kat! I help Etsy sellers make more money! If that sounds good to you, well, you're in the right place! We have also just added a super amazing Etsy Seller to the Crafter Coach family...More about us.